Borouge, a leading provider of innovative, value creating plastics solutions, has strengthened its presence in China with the establishment of a Marketing and Sales Company in Beijing, China.
The inauguration of the new Company was held at the China World Summit Wing Complex in Beijing on September 27, 2010 and was hosted by the Chairman of the Board of Borouge's Marketing Company H.E. Rashed Saud Al Shamsi and CEO William Yau.
Strengthening the economic ties between the P. R. of China and the United Arab Emirates, H.E. Guo Hu, Director of the West Asia and Africa Department of the Ministry of Commerce, H.E. Chen Ping, Senior Counselor of the Third Bureau of the International Department, Central Committee of the CPC and H.E. Pu Yu, Director of the Standing Committee of the CPC, Yangzhou Municipal Committee, led a delegation from the Government of P.R. of China, and the Ambassador of the State of Qatar in Beijing H.E. Abdulla Al Muftah, the Ambassador of the United Arab Emirates H.E. Omar Ahmed Al Bitar and official representatives of the Governments of Bahrain, Kuwait and Oman represented the Gulf States. Other guests included representatives from the Chinese Industry Trade Associations and customers and business partners of Borouge in China.
Through the opening of this Marketing and Sales company in Beijing, Borouge will further its strategic objectives and be better positioned to serve its customers throughout the region with innovative plastics solutions from its manufacturing plants in Abu Dhabi, in the United Arab Emirates, and Shanghai.
"China is clearly an important market for Borouge and our ongoing investments reflect our commitment to a long term partnership with our customers, the region and the Chinese plastics industry", says H.E. Rashed Saud Al Shamsi, Chairman of the Board of Borouge Pte.
Borouge has ten offices worldwide, four of which are in China (Beijing, Shanghai, Guangzhou and Hong Kong). These offices in China are supported by logistics hubs in Shanghai and Guangzhou, and a research and development Application Centre in Shanghai.
China has become the single largest market for polyolefins in the world with approximately 30 million tonnes consumed in 2010, while China's GDP growth is expected at a minimum of 7% over the next 5 years. China is also the world's largest market for automotives, a key end-use market for plastics. Borouge provides polyethylene and polypropylene plastics solutions for the pipe, wire and cable, automotive and advanced packaging markets.
Earlier in 2010, Borouge inaugurated its manufacturing plant in Shanghai, with an annual capacity of 50,000 tonnes for compounding resins specifically for the growing automotive and appliance industries, and is now planning a second compounding plant to be built in Guangzhou. In Abu Dhabi, Borouge has increased the production capacity of its primary plant from 600,000 to 2 million tonnes of polyolefins per year and in one of the world's major petrochemical projects, is expanding its manufacturing capacity to 4.5 million tonnes per year by the end of 2013, creating the world largest integrated polyolefins plant.
Borouge is a joint venture between the Abu Dhabi National Oil Company (ADNOC), one of the world's largest oil and gas companies, and Austria based Borealis, a leading provider of chemical and innovative plastics solutions.